InsurTech 50 star has launched a new specialist park home product.
Powered by Ripe鈥檚 cloud-based underwriting and insurance distribution platform 鈥� known as Juice 鈥� Ripe Park Homes aims to create a personalised digital journey for purchasing insurance in the growing market.聽
Tailored to individual customer needs – so they only pay for the cover they want – customers can purchase a bespoke package with just a few clicks online. Ripe says its customised approach uniquely gives customers more flexibility and choice than other insurers in the park home market who offer pre-bundled packages or don鈥檛 offer online sales and support.
The new product covers fixtures and fittings cover up to the value of 拢500,000 and contents up to the value of 拢75,000. Customers can also flex their policy to add harder to cover items like hot tubs, mobility scooters and home emergencies.
Ripe Park Homes follows the launch of Ripe Caravans, which has been Ripe鈥檚 most successful new product in the market. Since launching on the technologically advanced Juice platform in 2020, Ripe Caravans has attracted more than 26,000 policyholders, significantly disrupting the marketplace. Both Ripe Caravans and Ripe Park Homes are underwritten by Aviva.
Paul Williams ACII, CEO of Ripe, said: 鈥淲e have the technology in place to deploy new products reliably and at real pace when we see a gap in the market, and that鈥檚 exactly what we鈥檝e done with park homes.聽
鈥淥n establishing ourselves in the caravan sector, we saw that there was an opportunity for innovation in park homes insurance 鈥� for a product that鈥檚 more competitively priced, customer-driven and digitally led.聽
鈥淲e have a tremendous track record in entering niche markets with our agile model, so we鈥檙e confident that Ripe Park Homes will make a real impact.鈥�
Ripe鈥檚 growing product portfolio now has over 15 specialist insurance products targeting leisure, lifestyle and SME markets.
The Manchester company recently appointed a new COO and CFO.
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